Economy

In January-September 2018 the state budget revenues from sold land plots made up 6.607 million GEL. According to the Treasury Service of Ministry of Finance, in January-September 2018 the revenues from decline in nonfinancial assets made up 81.865 million GEL, which is 209.9% of the forecast indicator (39 million GEL). …

City Hall is starting with a new, independent, overground metro project from 2019, with the support of the central government. The Mayor of Tbilisi, Kakha Kaladze talked about the presentation of the first stage of the implementation of the Prime Minister’s initiative – Green Policy Action Plan. According to Kakha …

The government plans to replace the auto-park replacement plan. According to the Prime Minister Mamuka Bakhtadze, as of the plan, in the next 10 years 90% of existing auto-park in the country should be replaced with electric cars. “Georgia will be the first country to replace its auto park in …

As Georgian Prime Minister Mamuka Bakhtadze stated during today’s handover ceremony of ships by the US Government to Georgia in Poti, “We are happy that our strategic partners understand well the role of the Black Sea Region and of our country in particular in ensuring global security.” According to the …

Trade Ready, a new EBRD trade support initiative, was introduced in Georgia today to benefit the country’s small and medium-sized enterprises (SMEs) working to improve their competitiveness to succeed in international markets. Supported by donor funding from the European Union under its EU4Business initiative, Trade Ready has been designed to facilitate access to finance …

Production of solar panels will start in Kutaisi. The project will be implemented by German investment, in particular, the German-Mexican company “AE SOLAR”, with which the contract will be signed in the near future. ”Solar Panels producing factory in Georgia is being built for the first time. The enterprise will …

Economic expert Vakhtang Chumburidze asserts that new banking regulations, which are to take effect on November 1, 2018, will seriously burden business environment and many sectors of Georgian economy. “Regulations started 2 years ago under the pretext of resolving problems with excessive debts. Naturally, excessive debts generate real problems, but …

According to the primary project of the budget presented to the Parliament by the Ministry of Finance, the budget of the Ministry of Health will be 3.863 billion GEL, which is more than 200 million than 2018. 3.8 billion GEL is a record amount, which any Ministry of Georgia has …

More then 150 young people from five municipalities of Ajara Autonomous Republic took part in the Youth Forum on 14 October 2018 that focused on the youth leadership in rural areas. Aiming to boost the role of young people in rural development, the Youth Forum provided its participant with the …

EBRD’s TFP Trade Finance Forum takes place in Tbilisi on 18-19 October 2018, following the ICC Banking Commission Technical Meeting, on 15-17 October 2018. The aim of the Forum is to discuss key challenges and new opportunities in trade finance in the EBRD’s countries of operations and beyond and to …

The Auditing Service demands that liabilities of state-owned companies and assessment of their risk level be registered. This demand is read in the conclusion that the Auditing Service has published regarding the 2019 state budget bill. According to the service officials, in case of bankruptcy or insolvency of state-owned companies, …

“Georgia is in the list of third countries from which honey import is allowed to the EU,” Giorgi Misheladze, chairman of the Agricultural Cooperatives Development Agency told Commersant. However, Misheladze believes that the country faces a problem of a large number of homogeneous honey and quality honey production. When asked of what the state is …